The central banks of Russia and Venezuela are working to expand the use of the Mir national payment system in the Bolivarian Republic. At the moment, the government teams of the two countries are busy exchanging financial information in order to gradually eliminate the use of the dollar in exchanges.
According RIA Novosti, Venezuelan Foreign Minister Ivan Gil told reporters that negotiations with his Russian counterpart Sergei Lavrov on this issue had been successful and that “good news” would soon be announced to the people of Russia and Venezuela. This issue will also be discussed at a high level in the Intergovernmental Commission next week in Russia.
Mir is a Russian national payment system operated by the National Payment Card System (NSPK), 100% owned by the Bank of Russia. The development and use of its own national payment system helps the country circumvent US sanctions and secures its financial independence.
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